What do you do if your digital partners and vendors are not meeting your expectations?

1 Assess Fit

When your digital partners aren't delivering as anticipated, the first step is to assess the fit between their services and your business needs. It's essential to review the original objectives and expectations set at the beginning of the partnership. Determine if these align with your current strategy and goals. Sometimes, a mismatch in expectations or a shift in your business direction can cause discrepancies in performance. Understanding the root cause is the key to addressing any issues effectively.

2 Open Dialogue

Once you've pinpointed the issues, initiate an open dialogue with your vendors. Effective communication is the cornerstone of any successful partnership. Approach the conversation with a collaborative mindset, aiming to understand their perspective and challenges. Clearly articulate your concerns and expectations, and be prepared to listen to their input. This mutual exchange can often reveal underlying issues and pave the way for a constructive resolution.

3 Revisit KPIs

Revisiting the Key Performance Indicators (KPIs) is crucial when vendors aren't meeting expectations. These metrics should reflect your current business objectives and provide a clear measure of success. If the KPIs are outdated or misaligned, it's time to redefine them. Work together with your partners to set realistic, achievable KPIs that are mutually agreed upon, ensuring that everyone is working towards the same goals.

4 Action Plan

Developing an action plan is a proactive step to get things back on track. This plan should outline specific steps both parties will take to improve performance. It could involve additional training, resource allocation, or process changes. Make sure the plan includes timelines and accountability measures. Regular check-ins to monitor progress will help keep the partnership moving in the right direction.

5 Evaluate Options

If, despite your efforts, there's no improvement, it's time to evaluate your options. Consider whether it might be more beneficial to renegotiate the terms of the partnership or seek alternative solutions. Sometimes bringing in fresh perspectives or additional expertise can make a significant difference. However, it's important to weigh the potential impact of such changes on your business and proceed with caution.

6 Exit Strategy

In cases where alignment cannot be achieved, it may be necessary to develop an exit strategy. Ending a partnership can be complex, so it's important to handle it with professionalism and care. Ensure that you have a clear understanding of any contractual obligations and the process for disengagement. Protect your business interests by securing critical data and intellectual property before parting ways. Remember, a strategic approach to ending the relationship can leave the door open for future collaborations under different circumstances.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?